Tesla’s Market Cap Slips Below $1 Trillion as European Sales Plummet

• click to rate

  Posted by John Deo Feb 26 - Filed in General - #financialmodelingprep  - 20 views
  

  Tesla (NASDAQ:TSLA) shares tumbled 8.4% on Tuesday, driven by a sharp decline in European and UK sales in January. Increased competition from Chinese EV makers and European automakers ramping up their EV production further pressured Tesla’s position in the market.

  ---

  Key Takeaways

  \ud83d\udcc9 Tesla’s Market Cap Drops Below $1 Trillion

  • Tesla’s market capitalization now stands at $970.4 billion, down 18% year-to-date.
  • Investors can track Tesla's financial performance and key metrics using the Full Financials API.

  \ud83d\ude97 Tesla’s European Sales Plunge

  • New car registrations in the EU, EFTA, and UK fell 45.2% YoY to 9,945 units.
  • Tesla’s market share shrank from 1.8% to 1%, per European Automobile Manufacturers’ Association data.
  • This decline came despite overall battery electric vehicle (BEV) sales rising 34% in the region.

  \u26a1 Competition Intensifies as Other Automakers Gain Ground

  • Volkswagen (ETR:VOWG_p) saw a 14.9% YoY increase in sales, benefiting from its expanded EV lineup.
  • Toyota (NYSE:TM) and Renault (EPA:RENA) also posted higher sales, particularly in luxury and hybrid segments.
  • Investors can analyze Tesla’s valuation and industry position using the Company Rating API.

  ---

  Tesla’s Struggles in Europe

  \ud83d\udccc Key factors contributing to the slump:
  1️⃣ Chinese EV manufacturers (like BYD) are gaining traction in Europe’s price-sensitive market.
  2️⃣ Local automakers (VW, Renault, and Stellantis) are aggressively expanding EV offerings.
  3️⃣ Elon Musk’s political influence in the U.S. is reportedly turning off some European buyers.

  Tesla’s inability to capitalize on EV market growth in Europe suggests further competitive and pricing pressures ahead.